79. Beginning of the privatization period

В December 1990 years was accepted Business Law, allowing the establishment of various forms of individual activity, partnerships, private enterprises, limited liability partnerships, and joint-stock companies. After only one year, enterprises of this type began to operate; most of the employees continued to remain in the public sector of the country.

В end of 1991 year in place Chairman of the State Property Committee Was assigned A. Chubaiswho insisted on the implementation rapid privatization, i.e. formation of personal property rights. In order to prevent direct transactions between the apparatus of officials and buyers, it was necessary for the reformers to develop rules for privatization that take into account the maximum degree of corruption in the highest structure of the state. It was proposed to open tenders and auctions, i.e. where supply and demand arose.

В end of 1991 year by presidential order large enterprises acquired form of joint-stock companies, and a large share of the shares of which was transferred to the state privatization committees. In the end December 1991 were approved "Basic provisions of the program for the privatization of state and municipal enterprises in the Russian Federation in 1992". According to this publication, standards, procedures for privatization, and the total amount of income from it to the state budget for 1992-1994 were determined. Due to high inflation, it was not particularly difficult to obtain these amounts, and as a result of this, the state did not receive the real income it expected.

It was decided that employees should receive 25% of the capital of the enterprise free of charge, i.e. preferred shares. This event was held to involve employees in the privatization process, i.e. they could become individual owners. At this time, the government was worried that foreign entrepreneurs could buy up all large enterprises at a low cost, since the ruble was constantly devaluing. However, foreign investors, fearing the country's political and economic instability, were in no hurry to do so.

Restrictions were adopted in the privatization program, ie. privatization could not be carried out on natural resources, objects of cultural heritage, etc.

At the beginning of 1992, disputes flared up regarding the essence and directions of privatization, although the law and the program on it had already been adopted. The main problem in resolving this issue was to determine a more accurate ratio of shares in their distribution between workers' collectives and the state. The highest authorities believed that the workers of the enterprises could receive 25% of preferred shares free of charge and without voting rights and an additional 10% of ordinary shares with voting rights, and then the directors were given the right to buy 5% of the shares at par.

Many academic economists were against such a development, as they believed that the government should carry out rapid privatization and give all property to the workers free of charge. Thus, property would be returned to the people and universal justice would be proclaimed. However, members of the government were against it, since state employees, pensioners, military personnel and others could not participate in the privatization process. The leaders and employees of many enterprises did not agree with these proposals for privatization, who demanded that they be given a large part of the property. As a result, representatives of these layers developed the second privatization program for 1992.

Authors: Zilbertova T.N., Takhtomysova D.A.

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